THE REFORM OF THE ECONOMIC AND MONETARY UNION. THREE VISIONS FOR THE ADVANCE OF EUROPEAN INTEGRATION
THE REFORM OF THE ECONOMIC AND MONETARY UNION. THREE VISIONS FOR THE ADVANCE OF EUROPEAN INTEGRATION

Summary/Abstract: As the latest crisis has laid bare the flaws in the design of the economic and monetary union, a profound restructuring of the architecture of the EU’s economic governance became inevitable. However, the measures already taken and those under consideration tend to deepen an already clear cleavage between Euro and non-Euro Member States. The discussions on this topic are not entirely new. They are connected to a wider discussion on flexible integration that has paved its way in reaction to the increasing heterogeneity of the preferences and capabilities of the Member States. Inevitable, any decision on the reform of the economic and monetary union will have a direct impact on the future advance of European integration and its political outcome. The present article analyses the most important tenets of the upcoming reform of the economic and monetary union through the visions expressed by three of the most powerful leaders of the present day European Union.

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